Airless Tire Market - Global Analysis and Forecast to 2027”, the global airless tire market is expected to reach US$ 270.0 Mn by 2027, registering a CAGR of 5.1% during the forecast period 2019-2027.

Rising Need to Address the Concerns related to Frequent Flat Tire Incidences and Limit the Downtime Cost is a catalyzer for Airless Tire Market

A flat tire is among the significant inconveniences encountered by a driver, causing prolonged delays or expensive cost of towing, severe tire rupture, or even a lethal accident. Standard tires are unable to be safely driven on when flat. The flat tires cause the wheel rim to contact the ground directly with a detrimental effect on vehicle control. The technology of airless tire has a number of benefits for both the vehicle driver and the environment. These tires utilize lesser raw material (rubber, composite material) and energy in the production and in the long run as these tires provide longevity. Further, the market ecosystem is benefited with a limited number of scrapped tires from damage or puncture. Additionally, the airless tires help in eliminating most of the irregular wear issues from under or over inflation and reduce risks on the road from sudden flats and blowouts.

The key airless tire market players profiled in this research study

Amerityre

Bridgestone Corporation

Continental Corporation

Evolution Wheel

Hankook Tire & Technology Co. Ltd.

McLaren Industries

Michelin

Sumitomo Rubber Industries Ltd.

The Goodyear Tire & Rubber Company

Toyo Tire & Rubber Co. Ltd.

The most prominent region in the global airless tire market accounted for North America, followed by the Asia Pacific and Europe. The dominance of North America in the airless tire market is due to the fact that the region houses several airless tire manufacturers, who capitalize significantly on the research & development of the product. The US is the largest market in North America as well as the global airless tire market and is anticipated to dominate the market throughout the forecast period from 2019-2027.

The escalation of airless tire market during the forecast period is attributed to the rising demand for non-pneumatic tires in various industries. Additionally, the procurement of airless tires is anticipated to catalyze with the commercialization of the product for light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs) in the future.